Financial best practices for religious congregations

Churches, synagogues, mosques and other religious congregations aren’t required to file tax returns, so they might not regularly hire independent accountants. But regardless of size, religious organizations often are subject to other requirements, such as paying unrelated business income tax (UBIT) and properly classifying employees. Without the oversight of tax authorities or outside [...]

By | 2018-12-12T16:28:03+00:00 December 13th, 2018|Not For Profit|0 Comments

How successfully has your nonprofit shifted from overhead to impact?

In the not-so-distant past, charity watchdog groups such as GuideStar, Charity Navigator and the Better Business Bureau’s Wise Giving Alliance were notorious for giving overhead ratios significant weightings in their rankings of not-for-profits. While such a practice can help potential donors weed out spendthrift organizations, it also tends to unfairly penalize nonprofits making [...]

By | 2018-10-24T15:02:17+00:00 October 24th, 2018|Business, Not For Profit|Comments Off on How successfully has your nonprofit shifted from overhead to impact?

Volunteers are assets nonprofits must protect

How much are your volunteers worth? The not-for-profit advocacy group Independent Sector estimates the value of the average American volunteer at $24.69 an hour. Volunteers who perform specialized services may be even more valuable. Whether your entire workforce is unpaid or you rely on a few volunteers to support a paid staff, you [...]

By | 2018-09-12T09:35:59+00:00 September 12th, 2018|Business, Not For Profit|Comments Off on Volunteers are assets nonprofits must protect

Make a licensing agreement work for your nonprofit

Licensing your not-for-profit’s name to a for-profit company can provide a valuable new revenue source — but it can also be risky. If you’re considering a licensing arrangement, ensure that the partnership really will generate funds and, possibly more important, a positive impression of your brand. Success . . . and controversy When [...]

By | 2018-08-22T10:25:41+00:00 August 22nd, 2018|Business, Not For Profit|Comments Off on Make a licensing agreement work for your nonprofit

Nonprofits should be prepared for sudden outpouring of support

Americans gave unprecedented sums to charity in response to the devastating hurricanes last year. Large organizations, such as the American Red Cross, were equipped to handle the huge influxes of donations. However, some smaller charities were overwhelmed. Although it may seem like an unlikely problem, your not-for-profit needs a plan to handle a [...]

By | 2018-08-15T16:00:06+00:00 August 15th, 2018|Business, Not For Profit|Comments Off on Nonprofits should be prepared for sudden outpouring of support

Steering your nonprofit through its growth stage

A not-for-profit’s growth stage generally starts two or three years after formation and continues until maturity at around age 7. This period comes with a sense of accomplishment and the opportunity to refine and expand, but these “adolescent” years can pose challenges as well. Board shifts Perhaps the most common marker of a [...]

By | 2018-08-08T12:39:27+00:00 August 8th, 2018|Business, Not For Profit|Comments Off on Steering your nonprofit through its growth stage

When it comes to revenue, nonprofits need to think like auditors

Auditors examining a not-for-profit’s financial statements spend considerable time on the revenue figures. They look at the accounting methods used to record revenues and perform a detailed income analysis. You can use the same techniques to increase your understanding of your organization’s revenue profile. In particular, consider: Individual contributions. Compare the donation dollars [...]

By | 2018-07-11T13:42:51+00:00 July 11th, 2018|Auditing, Business, Not For Profit|Comments Off on When it comes to revenue, nonprofits need to think like auditors

Holding a fundraising auction? Make sure your nonprofit is tax-compliant

Auctions have long been lucrative fundraising events for not-for-profits. But these events come with some tax compliance responsibilities. Acknowledging item donations If you auction off merchandise or services donated to your charity, you should provide written acknowledgments to the donors of the auctioned items valued at $250 or more. You won’t incur a [...]

By | 2018-06-28T11:16:22+00:00 June 28th, 2018|Business, Not For Profit|Comments Off on Holding a fundraising auction? Make sure your nonprofit is tax-compliant

Should your nonprofit hold virtual board meetings?

Your not-for-profit’s board of directors meetings don’t always need to be performed up-close and personal in the same room. Many organizations hold virtual board meetings via phone and with Web-based applications. Participation may improve It can be difficult to secure full board meeting attendance, but going virtual might allow members to attend meetings [...]

By | 2018-06-20T11:55:27+00:00 June 20th, 2018|Business, Not For Profit|Comments Off on Should your nonprofit hold virtual board meetings?

Make the most of your fundraising with simple metrics

The amount of money your not-for-profit raises in fundraising campaigns is meaningful, but so is how efficiently you’re able to raise it. Such costs can be measured using two metrics: Cost ratio and return on investment (ROI). Let’s take a look. Find a formula These two metrics can be used to evaluate both [...]

By | 2018-06-13T12:24:53+00:00 June 13th, 2018|Business, Not For Profit|Comments Off on Make the most of your fundraising with simple metrics
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